FX.co ★ Trading plan for the US session on September 5 EUR/USD and GBP/USD

EUR/USD

To open long positions for EURUSD, you need:

There are no critical changes in the plan. While the trade is higher than 1.1879, you can count on the bulls' attempt to reach the level of 1.1918, the breakdown with fastening on which will drive the EUR/USD pair to return to the level of Friday's high of 1.1974, where I recommend locking in the profit. If the euro goes below 1.1879, I recommend returning to buying only after updating the level of 1.1827 or to a rebound from 1.1790, if sellers failed to do it in the first half of the day.

To open short positions for EURUSD, you need:

The unsuccessful attempt to gain a foothold below 1.1879 led to a return of the pair towards the middle of the channel. At the moment, I recommend going back to selling only after a successful attempt to break and consolidate below 1.1879 with an exit at 1.1827 and update the low around 1.1790. If the euro rises in the second half of the day, it's best to monitor selling on a false breakout at 1.1918 or on a rebound from 1.1974.

GBP/USD

To open long positions for GBPUSD, you need:

Buyers successfully consolidated above 1.2937 and are trying to take the level of 1.2974, which will lead to further growth of the pound in the region of new weekly highs of 1.3014 and 1.3050, where I recommend locking in profits. In case the GBP/USD pair falls below the level of 1.2974, it is best to return to buying after the test at 1.2955.

To open short positions for GBPUSD, you need:

When selling the pound, I recommend that it be done only after a resistance of 1.3014 is updated or on the rebound from the level of 1.3050. In case the GBP/USD pair declines below the level of 1.2974, you can also see short positions on the pound with the main purpose of falling to the area of 1.2955, and also for an update at 1.2937.

Indicators

• MA (average sliding) 50 days - yellow
• MA (average sliding) 30 days - green
• MACD: fast EMA 12, slow EMA 26, SMA
• Bollinger Bands 20